St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-25
settled after this bill has been acted upon.
At present the amount of bonds it is in
tended to have authorized. itemiZnd Is.

bridge, and S550, 000 from the county is to
be asked for. which will make the amount
SIS, 070,0 900 for county and city. leaving
81, $40, 600 TO be borne by the city.
These bonds may be authorized. and it is
then left to the council to issue them, and
of course. while this issue would run up the
debt of the city to about &c. 500, 900, which
is considered very conservative, it is left at
the discretion of the council to issue any.
According to E. w. Peet, the city has
already the authority to issue about 81, OO0.-
600 which has not yet been issued This
may, however, include the S400 900 water
works bonds authorized by the last Iegisa-
ture, and the $500. 900 bridge bonds author
lied by the present. He says that. taking
into consideration the valuation of the city
at SS4, 600, 600,
THE PUBLIC DEBT
will run up to from 615 to Z per cent of the
assessed valuation, although the present
bonds are to be asked for under the pre-
sumption that the valuation will soon be
Sl15, 000.0 In any event it will hurt the
sale of the city bonds, he says, should the
indebtedness exceed percentum. He
asked Mr.. Murray last night why the bill
was not drawn so as to fix the interest of
the bonds at ) per cent. instead of mot to
exceed per cent" as it now reads His
idea is to give the city the benefit of about
S12, 900 premium, which ) per cent. would
do on about a per cent. basis on thirty
year bonds. -Four and a half per cents on
the same basis would give the city only
about 81, 600, which is probably 0verestim-
ating. Mr.. Murray answered that it would
hardly do for St. Paul TO make her bonds at
5 per cent while Minneapolis co1ltempIates
making hers for less.
President DelanO. of the fire commission,
thinks 500 900 is too little and if the eX-
tension bill passes an additional S25, 900
will be added for the fire department.
c. n. Bell asked the delegation to sup
port the Knox bill, which requires a board
of audit to inspect from time to time the
books Of the county treasurer and auditor,
and Mr.. Bell thinks it is ridiculous to ask
a board of audit to do it in Ramsey county
without proper compensation, the business
being of such magnitude as to require con-
siderable time. In the past, he says, lob
bes of county auditors and treaSurers have
defeated the passage OF such bill.
Daniel II. Moves requests the support of
the delegation for a bill providing for the
expenses of the weather service system
which the chamber of commerce has in
augurated and carried on at an expense to
its members of about 500. The service
now includes forty stations and extends
along five miles of railroad. and the bill has
been drafted and will come from repre-
sentative from one of the outlying districts
benefited by the service. The delegation
will support it.
Along with the extension of the city lin
its comes the question Of supporting the
state park. 1t is understood, according to
Mr.. Murray, that the people of Reserve are
unanimous to come into the city limits and
if necessary the state park can be excepted
G. n. Bell is in favor of extending st. Paul
to take in Reserve, and have Minneapolis
extend her limits to take in Mnnehaha
township, and then make each city bear an
equal burden Of the park expenses.
County Commissioner George Mitsch
wants to know: IF you are going to take in
Reserve and Mclean townships why don't
you take i'll the whole county and abolish
the county governments" Mr.. Murray re-
plies: we will let you take care of White
Bear, Mounds View. part of Rose and New
Canada; that will be enough for YOU"
THE ONTARIO PLAN
of assessment was only incidentally referred
to at the meeting, but after adjournment
quite discussion was entered into between
the members of the delegation. Messls.
Rogers, Hendrickson. Warren and Newell
are opposed to the plan, and Mr.. ElmqueSt
is in favor of it aid has a bill
already printed. Senator Smith has
previously declared his opposition. The
opponents of the measure are unanimously
in favor of bill to extend the time of re-
demption to five years and to reduce the
penalty to II per cent. They say the eff
fects Of the Ontario plan will operate
against both public and private credit, be-
sides retarding tile improvements of the
city. since under the plan every assessment
remains first lien upon the property until
the period of ten years has expired. No
other Improvement can be assessed for
under this plan upon the same property
until all the bonds issued to cover the
specific Improvement or, possibly. number
of improvements together. are all redeemed:
and as these bonds may be circulating
anywhere, it would be difficult to redeem
them at the time most convenient or desir-
able to the property-holders Should q
number of property holders pay all their as
sessments at the time they were made this
money must be left standing either idle or
i'll some investment, profitable OF otherwise,
While the interest upon the bonds would
continue to be paid. While the city pays
90 per cent. in the ten years upon the bonds
to the purchaser. the city receives from the
property-hoder, who pays in ten equal in
stallments, the hrst being paid without in
terest, only 3113 per cent. To make good
this loss of 2S15 per cent. it is necessary to
invest the money received as fast as it
comes into the treasury.
A bill has been drafted to make the Office
of the st. Paul building inspector salaried
one without fees. and Minneapolis comes
forward with bill to make the building in
spector depend for his compensation upon
fees instead of salary as Heretofore.
These VIII Be Recommended.
The house judiciary committee met all
yesterday afternoon, and decided to recon-